Enterprise to Release Analysis of Neighborhood Stabilization Program State, Local...

Enterprise to Release Analysis of Neighborhood Stabilization Program State,
Local Plans

COLUMBIA, Md., April 7 /PRNewswire/ -- In summer 2008, Enterprise Community
Partners, Inc. (Enterprise) and our partners worked with Congress to secure
$3.92 billion for the Neighborhood Stabilization Program (NSP) in an effort to
avert further destabilization of the communities. NSP is a recently developed
federal program based upon the Community Development Block Grant (CDBG) and
designed to provide localities with funds to reduce the harmful effects
foreclosed and vacant properties have on neighborhoods.

Localities that received an NSP allocation from HUD were required to submit an
action plan that detailed how they planned to use NSP funds to confront the
foreclosure crisis and stabilize communities.

Enterprise analyzed a select group of plans and compiled the results in a
report. The goal of the project was to gather quantitative data to learn what
localities are doing with the funds and to share promising approaches that
other localities could replicate to improve their foreclosure situation.

On Thursday, April 9, 2009, Enterprise will unveil the report via an online
discussion. The complete research paper will be available for download to
event participants and online at www.enterprisecommunity.org following the
event.

WHAT: Release and overview of the Enterprise report "The Challenge of
Foreclosed Properties: An Analysis of State and Local Plans to Use the
Neighborhood Stabilization Program"

WHO: Amanda Sheldon, research and policy analyst, Enterprise Community
Partners
Phillip Bush, Freddie Mac fellow, Enterprise Community Partners

WHEN: Thursday, April 9, 2009
2 - 3:30 p.m. EDT

WHERE: Online: To register for this event*, please visit the following link:
https://enterprisecommunity.webex.com/enterprisecommunity/onstage/g.php?d=351202155&t=a&EA=dlsjvs@gmail.com&ET=02edd2de0bf6d414dc0ce1d6f34442ab&ETR=4cb3ab64fae55d6b0f39e619419ef0df&RT=MiMxMQ==&p

* We encourage those who plan to participate to register in advance of the
session. Those who preregister will receive a PDF of the report prior to the
session.

Enterprise is a leading provider of the development capital and expertise it
takes to create decent, affordable homes and rebuild communities. For more
than 25 years, Enterprise has introduced neighborhood solutions through
public-private partnerships with financial institutions, governments,
community organizations and others that share our vision. Enterprise has
raised and invested more than $10 billion in equity, grants and loans to help
build or preserve more than a 250,000 affordable rental and for-sale homes to
create vital communities. Enterprise is currently investing in communities at
a rate of $1 billion a year. Visit www.enterprisecommunity.org and
www.enterprisecommunity.com to learn more about Enterprise's efforts to build
communities and opportunity.

SOURCE Enterprise Community Partners, Inc.

Tina McDaniel, +1-410-772-2780, cell +1-443-472-1479,
tmcdaniel@enterprisecommunity.org